A quality modern industrial shed located in Carmichael Street, Raymond Terrace has been leased by Ray White Commercial Newcastle.
The property, previously occupied by a gymnasium is now leased by Ziggys Design Driven a Specialist Hot Rod & Motor Vehicle Builder.
Leasing Agent, John Parnham secured the new tenant on a ten (10) year initial term with two further options to renew of five (5) years. To compensate the extensive fit out works required a reduced rental has been offered for the first two years with annual fixed increases of $7,800 to 2017 with CPI Increases each year thereafter.
Inquiries were sourced through our Ray White database, Real Commercial & Ray White Commercial Newcastle Site. Inquiries ranged from a wide range of local & national tenants.
|Tenant:||Ziggys Design Driven|
|Annual Rent:||$36,400 + Outgoings|
|Initial Term:||10 years|
|Option period:||5 +5 year|
|Rent Review:||Fixed 2yr ($7,800) & CPI|
|Permitted Use:||Motor Vehicle Design|